International

  • March 29, 2024

    Canada Extends Mineral Exploration Tax Relief To 2025

    A 15% Canadian tax credit for investments in mining activities that was set to expire at the end of the month has been extended to March 2025, the country's Department of Finance said.

  • March 29, 2024

    HMRC Issues Draft R&D Credit Guidance For Overseas Work

    HM Revenue & Customs released draft guidance for complying with new restrictions on tax relief for payments to contractors for research and development, as well as payments for externally provided workers, for R&D activity that takes place abroad.

  • March 28, 2024

    PwC Fined $3M Over Auditor Controls, Australia Probe

    The Public Company Accounting Oversight Board leveled a pair of fines totaling more than $3 million against PwC on Thursday, accusing the Big Four accounting firm of failing to maintain policies to ensure auditor independence and of waiting years to inform the U.S. regulator that it was being investigated in Australia.

  • March 28, 2024

    Corp. Transparency Act Overbroad, Mich. Group Tells Court

    The Corporate Transparency Act is overbroad and violates both the Fourth and Fifth Amendments of the U.S. Constitution, the Small Business Association of Michigan told a federal court in a case similar to one currently in the Eleventh Circuit.

  • March 28, 2024

    Hong Kong Considering Patent Box Tax Regime

    Hong Kong's legislature will soon consider a so-called patent box regime that would establish a 5% tax rate on income derived from intellectual property in the jurisdiction, compared with the normal 16.5% tax rate on nonresident royalty income, the country's Inland Revenue Department said Thursday.

  • March 28, 2024

    Canadian In Wash. Owes Over $1M FBAR Penalty, US Says

    A Canadian man living in Washington state owes more than $1 million in penalties for failing to report bank accounts he held in Montreal, the U.S. Department of Justice said in a complaint filed in an attempt to collect the money.

  • March 28, 2024

    Egypt Tax Info Sharing Only Partially Compliant, OECD Says

    Egypt needs to make "significant improvements" to portions of its exchange of information on request mechanisms to bring it in better compliance with Organization for Economic Cooperation and Development standards, the organization said Thursday.

  • March 28, 2024

    Truck Co. Sues Ex-Boss For £216K Over Tax Dodge Scheme

    A British truck dealership is suing its former managing director for more than £216,000 ($273,000), alleging that he left the company liable for a huge back tax bill by setting up a fraudulent salary sacrifice scheme to rent a house.

  • March 28, 2024

    2nd Circ. Urged To Uphold Dual Citizen's FBAR Penalties

    A New York federal court correctly upheld tax penalties against a dual French citizen for hiding millions of dollars in six foreign accounts, the U.S. government told the Second Circuit, urging it to reject the woman's claims that American authorities violated the Hague Convention in pursuing her.

  • March 28, 2024

    Nev. Estate Owes Over $3.8M In FBAR Penalties, Court Rules

    The estate of a Nevada entrepreneur must pay over $3.8 million in penalties and interest for willfully failing to report his foreign bank accounts in Belize, the Bahamas and Panama, a federal district court ruled.

  • March 28, 2024

    New Zealand Parliament Passes Global Minimum Tax

    The New Zealand Parliament has passed a wide-ranging tax bill that includes establishing the Organization for Economic Cooperation and Development's global corporate minimum tax.

  • March 28, 2024

    EU VAT Draft Draws Flak Over Cost For Online Platforms

    A proposed overhaul of the European Union's value-added tax rules to make them fit for the digital age faces questions about how the draft law treats platform companies in transportation, such as Uber or EU-based Bolt, when it comes to charging VAT.

  • March 28, 2024

    EU Justice Head To Step Aside To Run For Rights Group Post

    The European Union's president granted the bloc's justice commissioner leave to pursue a leadership role with a European human rights organization, the European Commission said.

  • March 28, 2024

    EU States OK Duty-Free Imports From Ukraine To June 2025

    European Union countries have overcome objections and backed the suspension for another year of customs duties and quotas on Ukrainian imports but only after tightening caps on some agricultural products. 

  • March 27, 2024

    Australian Senate OKs Amended Thin Capitalization Rules

    Australia's upper house passed a bill Wednesday amending the country's thin capitalization rules to limit the amount of debt deductions that multinational entities can claim in an income year.

  • March 27, 2024

    PwC Hiding Key Details Of Tax Scandal, Aussie Senate Says

    PwC is hiding key details from investigators about its partners marketing confidential drafts of tax laws to top U.S. firms, waited years to review the matter internally and does not appear capable of making substantive reforms, an Australian Senate committee said Wednesday.

  • March 27, 2024

    Czech Transfer Pricing Audits Boost Tax Base By $248M

    An increased focus by the Czech Republic on transfer pricing audits on arrangements to relicense intangible assets and the reselling of advertising services increased the country's tax base by 5.8 billion Czech koruna ($248 million) in 2023, the country's Financial Administration said Wednesday.

  • March 27, 2024

    Treasury Urged To Adjust Shift To Foreign Currency Rules

    The U.S. Treasury Department should let corporations take an aggregate approach regarding certain affiliates that conduct business in foreign currencies when transitioning to new rules for determining taxable income or loss, the American Bar Association's Tax Section recommended.

  • March 27, 2024

    Irish Corp. Tax Revenue Growing, With Risks, Report Says

    While Ireland's corporate tax receipts increased an average of 23% a year since 2014 before stabilizing in 2023, the country should be wary of overrelying on what could be a volatile revenue source, the Parliamentary Budget Office said.

  • March 27, 2024

    VAT Applies To UK Insurer's Prior Service Pact, Court Rules

    Value-added taxes apply to performance fees invoiced to a U.K.-based insurance company by an investment management firm as part of service agreements, a London court said, because those payments occurred outside the duration of the arrangement.

  • March 27, 2024

    Chile Finance Ministry Plans Capital Gains, Dividend Taxes

    The Chilean Finance Ministry and representatives of the country's political parties crafted a proposal during a pre-legislative session that would introduce a 13% capital gains tax as well as a 7% tax on dividends, the ministry said.

  • March 26, 2024

    Adjusting To Amount B's Rules May Bring Growing Pains

    Countries designed a new tax framework known as Amount B to streamline the pricing of certain cross-border operations, but the criteria for determining whether transactions qualify for the regime, which negotiators recently made optional, may complicate the goal of simplicity.

  • March 26, 2024

    German Legislators OK Tax Changes That May Save $3.5B

    Tax changes in Germany will result in as much as €3.2 billion ($3.5 billion) in savings for taxpayers under a bill passed via a compromise in the country's bicameral legislature, its upper house said.

  • March 26, 2024

    Italians Bust €260M Fuel VAT Fraud Ring In Sting

    Authorities in Italy used a sting to bust a crime ring suspected of causing an estimated €260 million ($282 million) in value-added tax damages by using a chain of missing traders to import fuel, the European Public Prosecutor's Office said Tuesday.

  • March 26, 2024

    Ex-Glencore Exec Owes Income Tax On £150M In Dispersals

    Glencore's former head of oil is liable for income tax on nearly £150 million ($189 million) in distributions he received as a profit participation shareholder in the Jersey company because they're considered dividends under U.K. law, according to an Upper Tribunal decision.

Expert Analysis

  • General Counsel Need Data Literacy To Keep Up With AI

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    With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.

  • Navigating Discovery Of Generative AI Information

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    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • Attorneys, Law Schools Must Adapt To New Era Of Evidence

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    Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

  • 1st Tax Easement Convictions Will Likely Embolden DOJ, IRS

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    After recent convictions in the first criminal tax fraud trial over allegedly abusive syndicated conservation easements, the IRS and U.S. Department of Justice will likely pursue other promoters for similar alleged conspiracies — though one acquittal may help attorneys better evaluate their clients' exposure, say Bill Curtis and Lauren DeSantis-Then at Polsinelli.

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

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    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • Anticipating Intensified Partnership Enforcement From IRS

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    The Internal Revenue Service's decadeslong difficulties with partnership audits led to the recent announcement of a clear, well-funded, focused initiative, and businesses operating in the partnership form will feel the impact, with definite changes ahead, says Sharon Katz-Pearlman at Greenberg Traurig.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

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    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

  • The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'

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    The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.

  • How And Why Your Firm Should Implement Fixed-Fee Billing

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    Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • How Law Firms Can Use Account-Based Marketing Strategies

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    Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.

  • Strategic Succession Planning At Law Firms Is Crucial

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    Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.

  • Maximizing Law Firm Profitability In Uncertain Times

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    As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.

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